Similarweb (NYSE:SMWB) Sets New 12-Month High – What’s Next?

Similarweb Ltd. (NYSE:SMWB) shares hit a new 52-week high on Tuesday . The stock traded as high as $17.64 and last traded at $17.05, with a volume of 529197 shares trading hands. The stock had previously closed at $17.08.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. JMP Securities reissued a “market outperform” rating and set a $17.00 price target on shares of Similarweb in a research note on Wednesday, December 11th. Jefferies Financial Group raised their price target on Similarweb from $13.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Needham & Company LLC reaffirmed a “buy” rating and set a $14.00 price objective on shares of Similarweb in a research note on Thursday, January 16th. Northland Securities raised their target price on shares of Similarweb from $17.00 to $20.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. Finally, Citigroup boosted their target price on shares of Similarweb from $10.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $15.50.

Similarweb Price Performance

The company’s fifty day moving average is $14.86 and its 200 day moving average is $11.14.

Similarweb (NYSE:SMWB) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.07). The business had revenue of $64.71 million during the quarter, compared to analyst estimates of $62.90 million. Similarweb had a negative return on equity of 44.83% and a negative net margin of 3.92%. During the same period in the previous year, the company earned ($0.05) EPS. As a group, equities analysts expect that Similarweb Ltd. will post -0.05 EPS for the current fiscal year.

Institutional Trading of Similarweb

Several large investors have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC acquired a new position in shares of Similarweb during the fourth quarter worth about $29,000. New York State Common Retirement Fund acquired a new position in Similarweb during the 4th quarter worth approximately $39,000. Public Employees Retirement System of Ohio purchased a new position in Similarweb in the 3rd quarter worth approximately $70,000. Heck Capital Advisors LLC purchased a new position in Similarweb in the 4th quarter worth approximately $115,000. Finally, Quantbot Technologies LP acquired a new stake in Similarweb in the third quarter valued at approximately $75,000. 57.59% of the stock is currently owned by institutional investors and hedge funds.

Similarweb Company Profile

Similarweb Ltd. provides cloud-based digital intelligence solutions in the United States, Europe, the Asia Pacific, the United Kingdom, Israel, and internationally. The company offers digital research intelligence solutions for its customers to benchmark performance against competitors and market leaders, analyze trends in the market, conduct deeper research into specific companies, and analyze audience behavior; and digital marketing intelligence solutions for its customers to understand their competitors' online acquisition strategies in each marketing channel, and optimize their own strategies.